Bad news for crypto, good news for...
Hello, good morning, do you want a coffee with the bad news?
For those of you just waking up, Chine banned all ICOs and apparently all crypto trading as well and sent the crypto world tumbling down.
20billions wiped in a matter of hours. BOOM.
Let's look at NEO grapth - which is often called "the chinese ETH" - which was maybe the most affected.
Can you guess when the news hit?
Is this how crypto ends? Unlikely but certainly things won't be..uhm..great for a while.
If you want to read more on this check this and maybe this. I also enjoy this for a more balanced view.
What can you do?
Not much, hope it passes or buy the dip or sell all and go catch the last days of sun. I'm not your father to tell you what to do.
Just don't panic!
[ I know I left out the "good news" part because I want you to tell me who do you think this is good news for? ]
Damn that is some drop. Things are gonna be shaky for awhile I think. If you can't handle volatility, you may want to exit.
on the right..
It's funny to me that prices plummet like this. I thought the entire point of cryptocurrencies was that they exist/operate independently from and in spite of governments and their laws and regulations. I would expect prices to rise on news like this.
Maybe crypto "enthusiasts" aren't what they pretend to be after all.
I personally think that this is just a panic sell. ICOs can be "stationed" elsewhere anyway. Crypto can’t operate totally independently just yet, so all the news will affect it. For me this is perfect buy time (with the very limited resources I have unfortunately. I would gladly spend more if I had any money to be honest:D). What Im trying to say is that I think that you are correct that news like this will lead to the rise of the value. We just need the people to settle realize that nothing has really changed and wait for them to start buying again:)
Many are only enthusiastic about the amount of dollars they can sell them for.
so true :D
Looks like a buy opportunity for me. 😉😁 In China though, I don't think they get the choice of civil disobedience.
I guess they see it more as a worse perspective..still, the reaction is greatly exaggerated. No true believers man!!
@razvanelulmarin N-ai idee cat de mult m-as fi bucurat sa am vreo 500 RON de cheltuit acum sa cumpar niste NEO si OmiseGO. Ce dracu, pana si BTC, ETH si LTC as fi cumparat.
Uite si un link catre un scurt si usor de digerat Market Report al meu :)
https://steemit.com/steemit/@lifewithcrypto/steem-bitcoin-and-altcoin-daily-market-report-monday-september-4-2017
EN - If only I had a couple hundred $$$ to buy in the market today, a bit more NEO and maybe a couple OmiseGO as it's been on my wishlist for a few weeks now. Too bad I need to wait until next week when I get my salary so buy in... let's just hope it's not too late until then :)
haha! Love the Watchmen avatar :D
I think this is something temporary :D
And it is :) so war all the decline has been so.
Soon it is up :)
then down again!!!
it's like an amusement park, Just sit back and try to be calm :))
good news for the people with some fiat and strong hands I guess.
Good news for me is when someone tells me he likes me
Yea looks pretty grim
The Swiss probably. Japan. Singapore. If both the US and China are restricting ICO activity then it will migrate to gentler regulatory environments.
And bad news for EOS year long ICO given their recent announcement?
I hate news like that
BUT remember the 100BILLION to 70Billion crash 2months ago?
Well, I heard crypto is going dow back than... lolz... F the haters!